Trigano Shares Drop 3% and Threaten Support at €143.60
The French recreational vehicle manufacturer is experiencing one of the most significant declines on the Paris stock exchange, going against a generally positive market trend. The stock is erasing the technical rebound that began at the end of last week and is approaching a closely watched support level. The relaxation in oil prices, which had supported the stock on Monday, is no longer sufficient to sustain the momentum.
Trigano Lags in the SBF 120 and Approaches Its Support at €143.60
Trigano's stock has fallen 3.09% to €144.40, while the SBF 120 has risen by 0.73% and the CAC 40 has gained 0.76%. The stock is among the largest declines in the broad index, trailing behind Viridien. This drop erases a good portion of the rebound of over 3% recorded the previous day, which had been driven by the fall in Brent crude oil prices.
Over the past month, the stock has now lost 8.78%, and 5.93% in just the past week. The price is returning to its support level at €143.60, which was already tested on June 12 and had served as a rebound point. A break below this level would pave the way for a continuation of the consolidation that began in mid-May.
Technical Configuration Deteriorates Below Three Moving Averages
The stock is now trading below its three moving averages, with a gap of 6.31% below the MM20 (€154.12), 6.26% below the MM50 (€154.05), and 7.92% below the MM200 (€156.82). This unfavorable alignment confirms the trend break that began in early June, following the revision of the price target mentioned on June 9 during the stock's drop. The RSI at 44 remains in the neutral zone, with no oversold signal, which still leaves room for a potential extension of the decline before a technical rebound.
According to the consensus of analysts surveyed, the stock is trading at about 9.4 times the earnings for the current fiscal year, with an expected EPS growth of 7.5% from one year to the next. The behavior of the stock around the €143.60 threshold remains the immediate point of observation.
